Archive – Banking & Fintech

Railways announce more job cuts but no redundancies

This content was published on Jul 4, 2000 At a news conference in Berne, the Federal Railways said no redundancies were expected in the move to reduce staff to 3,600. At present, 4,700 staff in 30 locations are responsible for the maintenance of some 20,000 locomotives and carriages. The Federal Railways hope the cuts will lead to savings of some 20 per cent…

Government launches campaign for energy levy

This content was published on Jul 4, 2000 The government launched its campaign ahead of a nationwide vote in September, which will decide the future direction of Switzerland’s energy policy. Swiss voters will be called upon to approve a new tax on fossil fuels (oil, petrol, gas) and nuclear energy. They will also have to decide how the proceeds should be used. The…

SAirGroup chooses Swiss to head merger of French airlines

This content was published on Jul 4, 2000 Reutlinger’s appointment comes after employees of the three airlines went on strike last week, fearing job losses and a dismantling of the three companies. Together the airlines made losses of nearly SFr200 million last year A communiqué from Sabena in Brussels said that Reutlinger, aged 57, is to take over on August 1 after he…

Rivella profit sinks by a third

This content was published on Jul 4, 2000 At a news conference in Zurich, Rivella announced that sales in Switzerland went up by 11.7 per cent to 85 million litres, with an additional 16 million litres produced for foreign markets. However, the group said that it had not achieved its goal of establishing Rivella as a mass market product in Britain. “We have…

Small and medium-sized firms optimistic about Swiss economy

This content was published on Jul 4, 2000 In a study, the economics information agency Dun and Bradstreet reports that the sectors benefiting most are the machine industry, electronic components, medical technologies and graphic arts. SMEs in the retail trade are also optimistic about their sales prospects, particularly in the vehicle, transport and construction branches. The study, which surveyed 1,500 companies with between…

Swiss banks under pressure to act as tax informers

This content was published on Jul 4, 2000 The Swiss Bankers Association criticised the decision, saying the US was forcing the world’s banks to act as unpaid tax collectors. However, the Association said the new regulations do not amount to an attempt by Washington to circumvent Switzerland’s banking secrecy laws. The Basel-based association says it sees no breach of banking confidentiality because any…

Rivella profits sink by a third

This content was published on Jul 4, 2000 At a news conference in Zurich, Rivella announced that sales in Switzerland went up by 11.7 per cent to 85 million litres, with an additional 16 million litres produced for foreign markets. However, the group said that it had not achieved its goal in Britain to establish Rivella on the market as a mass product.…

Booming Swiss film industry begs for more cash

This content was published on Jul 3, 2000 More films than ever are being made with the help of the federal office for culture, and the office now estimates its budget needs increasing by SFr4 million for 2001. The head of the office, David Streiff, said two of the three meetings planned for the second half of the year by the panel which…

Lucerne targets tourists with new business venture

This content was published on Jul 3, 2000 A key aim of the new company is to attract individual tourists to Lucerne. At the moment, most of the city’s visitors come in organised groups or on business trips. The company hopes to be up and running at the latest at the beginning of next year. Luzern Tourismus AG is a joint venture between…

Swiss Re expands business interests in China

This content was published on Jul 3, 2000 The Zurich-based company has bought a minority stake in China Insurance International Holdings, which has just floated on the stock market. Swiss Re has acquired a 9.9 per cent stake in the company for SFr 25 million. CIIH’s parent company, China Insurance Group, is one of the four biggest insurance companies in China’s state run…

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